Frankford Avenue from York St. to Lehigh Avenue has been undergoing a resurgence over the last few years. We have seen new stores, cafes, and other businesses open on this stretch with a ton of additional new residential units.
2559 Amber St. is a CMX-2 zoned lot just off of Frankford Avenue. The parcel was sold to developers in January of 2017 for $1.235 million. A construction permit was pulled in July 2018 for 31 residential units with ground floor retail and 60 bike parking spaces.
Work is already well underway on this project. Framing seems to be complete and windows are going in. The renderings show commercial spaces with large windows, which should help land a quality tenant. The facade looks like a corrugated metal material, which has shown to be popular in modern new construction buildings.
This development is a huge step forward for the Frankford Avenue corridor. The former vacant lot was fenced-off and blighted. The addition of 31+ new residents should help fuel the businesses along the avenue. We predict that these residential units will rent quickly if priced appropriately. Residents will be across the street from Steaks n Shakes and Almagan Comics and Coffeehouse. There are also a ton of other attractions within a short walk including Atlantis the Lost Bar, Four Sons Pizza, Philadelphia Brewing Company, Flow State Coffee Bar, The Monkey Bar, Martha, and Perry’s Place. We have also heard that Hello Donuts is renovating the building next door to 2559 Amber St and will be opening a cafe when the work is completed.
We’ll raise our pint of Kensinger to toast the continued improvement of Frankford Ave.
UPDATE 6/22/19: The facade has been installed. New pictures below.
Kyle is a commercial real estate agent at Rittenhouse Realty Advisors, a homeowner, and a real estate investor in Philadelphia. Kyle uses his extensive Philadelphia real estate market knowledge to help his clients buy and sell multifamily investment properties, development opportunities, and industrial sites.
Email Kyle@RittenhouseRealty.com if you are looking to buy or sell a property
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